Funding you earn now, next payment 08:00 UTC−0.0072%/8h= −7.9% APRnext payment −$0.72 per $10,000 · paid last 24h 0.000%
Price spread now: OKX against Kalshi−0.055%7-day average +0.005% · you buy dearer than you sell
Net, funding: paid 7d − costs−$21as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$210.207% of the position
Funding, last 7 days−0.008%−$1 on $10k
+Price spread, last 7 days+0.031%+$3 · spread now −0.055%, 7d avg +0.005%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and OKX is 0.060% cheaper against Kalshi than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.005%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kalshi KXBTCPERP | 85,300 | 0.0172 | pay 0.0172% / 8h | 4h 09m | $12.0M | $737.8M | 6.4x |
| Short | OKX BTC-USDT-SWAP | 85,252.9 | 0.0100 | get 0.0100% / 8h | 9m 37s | $2.60B | $12.26B | 100x |
Kalshi KXBTCPERP
OKX BTC-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Kalshi. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$15.1
- Price spread: −0.055% → +0.005%
- −$6.04
- Slippage, 4 orders
- −$0.68
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$41.82
- Costs to cover
- 0.207%
- Break-even
- never at this rate
Slippage from Kalshi: live order book, 5 min ago; OKX: live order book, 5 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Kalshi live order book, 5 min ago | 0.18 bp | 5.4 bp −$5 | 5.9 bp −$59 | 7.3 bp −$729 | 11.9 bp −$5,927 |
| Sell OKX live order book, 5 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.2 bp −$517 | 6.3 bp −$3,156 |
BTC on 56 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,267 | −0.039% | $8K | $3K | 50x | as long as short |
| Phoenix BTC | −0.0034% | 1h | 85,304 | +0.005% | $2.3M | $10.8M | 40x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,240.2 | −0.070% | $421.3M | $686.0M | 150x | as long as short |
| KuCoin XBTUSDTM | −0.0010% | 8h | 85,236.9 | −0.074% | $927.5M | $776.8M | 125x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,256.9 | −0.051% | $343K | $2.3M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,292.4 | −0.009% | $36.5M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0010% | 8h | 85,249.5 | −0.059% | $509.2M | $1.09B | 200x | as long as short |
| dYdX BTC-USD | +0.0017% | 1h | 85,277.8 | −0.026% | $16.7M | $21.0M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0026% | 1h | 85,296.3 | −0.004% | $185.6M | $953.8M | 100x | as long as short |
| BingX BTC-USDT | +0.0065% | 8h | 85,251.7 | −0.057% | — | $1.58B | — | as long as short |
Hotstuff BTC-PERP
Phoenix BTC
BloFin BTC-USDT
KuCoin XBTUSDTM
01 Exchange BTCUSD
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
dYdX BTC-USD
Kraken Futures PF_XBTUSD
BingX BTC-USDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0067% | 1h | 85,200 | −0.117% | $310K | $25.7M | 52x | as long as short |
| Bybit BTCUSDT | +0.0083% | 8h | 85,254.5 | −0.053% | $5.09B | $10.04B | 150x | as long as short |
| Nado BTC-PERP | +0.0091% | 1h | 85,243.7 | −0.066% | $24.1M | $221.3M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0096% | 1h | 85,281.8 | −0.021% | $139.7M | $312.0M | 100x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,262.3 | −0.044% | $168.9M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,261.6 | −0.045% | $23.6M | $149.1M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,270 | −0.035% | $8.4M | $57.7M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,279.8 | −0.024% | $2.4M | $6.7M | 20x | as long as short |
| Bitget BTCUSDT | +0.0099% | 8h | 85,254.7 | −0.053% | $2.97B | $5.21B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,227 | −0.086% | $269K | $8.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,291.3 | −0.010% | $5.7M | $9.5M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,272.1 | −0.033% | $40.0M | $605.4M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,248.8 | −0.060% | $9.39B | $25.17B | 150x | as long as short |
| OKX BTC-USDT-SWAPshort | +0.0100% | 8h | 85,252.9 | −0.055% | $2.60B | $12.26B | 100x | |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,279 | −0.025% | $3.8M | $17.3M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,260.3 | −0.047% | $4.6M | $97.7M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,252.9 | −0.055% | $5.49B | $11.16B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,248.7 | −0.060% | $5.04B | $5.77B | 500x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,266.5 | −0.039% | $37.0M | $190.5M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,228.2 | −0.084% | $155.9M | $548.6M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,184.8 | −0.135% | $282.5M | $959.6M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,282.2 | −0.021% | $214.0M | $159.8M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,236.4 | −0.075% | $30.0M | $214.1M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,353.6 | +0.063% | — | $10.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,289 | −0.013% | $10.9M | $15.0M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,295.1 | −0.006% | $197K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,290.9 | −0.011% | $2.6M | $9.7M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,325 | +0.029% | $194K | $795K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,311.3 | +0.013% | $28.8M | $45.1M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,259.3 | −0.048% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,280 | −0.023% | $59.7M | $336.5M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,275 | −0.029% | $2.25B | $974.1M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,280.1 | −0.023% | $158.9M | $516.1M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,240 | −0.070% | $693.3M | $214.1M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,229.6 | −0.083% | $45.4M | $240.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,250.6 | −0.058% | — | $106.7M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,323.9 | +0.028% | $111.6M | $5.47B | 50x | as long as short |
| Hyperliquid BTC | +0.0106% | 1h | 85,332 | +0.038% | $3.78B | $5.11B | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0112% | 1h | 85,318.2 | +0.021% | $835.8M | $1.66B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0143% | 1h | 85,285.6 | −0.017% | $6.6M | $142.1M | 40x | as long as short |
| Kalshi KXBTCPERPlong | +0.0172% | 8h | 85,300 | long leg | $12.0M | $737.8M | 6.4x | |
| RISEx BTC/USDC | +0.0174% | 1h | 85,274.3 | −0.030% | $8.8M | $43.0M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0174% / S −0.0146% | 1h | 85,288.3 | −0.014% | $13.0M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0264% | 1h | 85,301.7 | +0.002% | $696K | $7.7M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0298% | 1h | 85,269.2 | −0.036% | $79K | $246K | 20x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,306.4 | +0.008% | $464K | $18.4M | 6.7x | as long as short |
Injective BTC/USDC PERP
Bybit BTCUSDT
Nado BTC-PERP
ApeX Omni BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Bitget BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Pacifica BTC
Binance BTCUSDT
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Hyperliquid BTC
Deribit BTC-PERPETUAL
Reya BTCRUSDPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
Perpl BTC